Arkansas requires that persons driving on Arkansas roads have at least minimal insurance coverage which provides $25,000.00 per person liability coverage, as well as minimal property damage limits.
However, other coverages are needed to protect you and your family. Some of these coverages are as follows:
Medical Payments/Wage Loss Coverage
Commonly referred to as personal injury protection (PIP), these coverages will pay for medical expenses and lost wages when you are in an accident. How much of these bills will be paid depends on how much coverage you buy. The minimum coverage in Arkansas is $5,000.00 for medical bills and $140.00 per week for lost income.
Uninsured Motorist Coverage
Uninsured motorist coverage will pay for your injuries and damages when a wreck is caused by someone who doesn't have insurance of their own. You should have a sufficient amount of uninsured motorist coverage to pay for damages in the event you are in a severe accident.
Underinsured Motorist Coverage
Underinsured motorist coverage will pay if the person who causes the wreck doesn't have enough coverage to fully pay for your injuries and damages. Underinsured motorist is "excess" coverage over and above the liability limits of the person responsible for the accident. Again, underinsured motorist limits should be large enough to pay enough in the event that you are in a bad accident and have large damages.
Requirement of Coverages
Arkansas requires that insurance companies offer you medical payments, wage loss, underinsured and uninsured coverages. If you don't want these coverages, you have to sign to reject them. If you did not sign a rejection these coverages may exist for you as a matter of law.
If we can answer these or other insurance coverage questions which arise from a car or motorcycle accident, please do not hesitate to give us a call at 501-315-7491.